Developer Cedar Woods acquires 21 hectare site in Melbourne’s Wollert adjacent to their Mason Quarter project

The combined project will accommodate a master planned community of around 800 lots plus two school sites.

Developer Cedar Woods acquires 21 hectare site in Melbourne’s Wollert adjacent to their Mason Quarter project

The ASX listed developer Cedar Woods has acquired a 21.7 hectare site in Melbourne’s north, immediately adjacent to the company’s existing Mason Quarter project in Wollert

The combined project will accommodate a master planned community of around 800 lots plus two school sites.

The additional land, described as a strategic acquisition, was purchased for $30 million from a private land owner.

The payment has been deferred until 2022. 

Developer Cedar Woods acquires 21 hectare site in Melbourne’s Wollert adjacent to their Mason Quarter project

In October, 2019, Cedar Woods paid $56.65m for the opposite 43 hectare Wollert block.

Mason Quarter comes with a proposed town centre, a future train station, schools, community facilities, walking and cycling paths, and parks. 

Cedar Woods’ Managing Director, Nathan Blackburne, said the acquisition utilised “its strong balance sheet to take advantage of this favourable time in the property cycle.”

“We’re confident that the Melbourne land subdivision market will benefit from continued housing demand and perform well as Victoria continues its economic recovery,” said Mr Blackburne.

The combined site increases Mason Quarter’s frontage to Craigieburn Road.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Cedar Woods Masterplanned Community

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